In spite of the fact that the Central Bank of Azerbaijan (CBA) has created an opportunity to issue daily loans to non-bank credit organisations ( NBCOs) in 2024, it is not interested in the rapid development of this type of lending.
This was stated by CBA chairman Taleh Kazimov on 22 January at a press conference on the decision of the structure he heads over parameters of the interest rate corridor.
‘Daily loans pose a serious risk for both financial consumers and financial structures,’ he said.
It is worth reminding that in keeping with the CBA-approved ‘Rule on Management of NBCO credit risks’, credit institutions were allowed to issue daily loans in the national currency in the amount not exceeding AZN 500, with a daily interest rate not exceeding 0.3% and maturity not exceeding 45 days.
Finance
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Auction on early redemption of government bonds with codes AZ0201040208, AZ0201040240, AZ0201040265 and AZ0201040323 ISIN, placed by the Ministry of Finance, will be held at the Baku Stock Exchange on 25 February. This was reported by the Ministry.
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The Central Bank of Azerbaijan (CBA) has approved ‘Rules of Operational Risk Management in Banks’ developed on the basis of progressive international experience and standards.This is reported on the CBA website.
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In January 2025, contributions to compulsory state social insurance in Azerbaijan totalled AZN 443.4 million. This was reported by the State Tax Service under the Ministry of Economy.
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In 2024, insurance companies in Azerbaijan concluded 50,207 contracts of ‘Green Card’ for a total amount of AZN 7.2 million.This was reported by the Mandatory Insurance Bureau (BIB).
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